Unit 2 Test - Life After High School

You must attend a prestigious (expensive) college or university in order for employers to recognize your talents and strengths.

• True
• False

Which of the following statements if false?

• On-campus jobs may pay you directly or pay toward your tuition bill.
• Research shows that students who work up to 20 hours a week have the highest grade point averages.
• Research shows that working more than 20 hours a week may affect your grades negatively.
• Students rarely drop out of college due to financial trouble.

Which of the following is a benefit of going to college and obtaining a degree?

• A higher credit score
• Higher potential earnings
• A nicer home
• Increased amount of debt

Which of these is a way to pay for college rather than an expense of attending college?

• Grants
• Tuition
• Room & Board
• Books & Supplies

Which of the following could be a negative consequence of taking out student loans?

• Not having the freedom to be a stay-at-home parent because of student loan payments.
• Having to delay investing and saving for your future because of student loan payments.
• Not having flexibility in your career options because of student loan payments.
• All of the above.

A form of financial aid that does not need to be repaid; usually awarded on the basis of academic, athletic or other achievements.

• Scholarship
• Gift
• Loan
• All of the above

A two-year degree is called a(n) ______________ degree?

Scholarships are a great way to minimize the large expense of college. Which statement best describes a scholarship?

• A scholarship is a loan of money that must be paid back before graduating college.
• A scholarship is a loan of money that must be paid back after graduating college.
• A scholarship is free money that you must qualify for but do not need to pay back.
• A scholarship is free money given to every student who decides to attend college.

Tatiana was offered a large amount of "gift aid" from one of the colleges to which she applied. What is gift aid?

• Gift aid is money that is loaned to you to attend college that you will eventually have to pay back.
• Gift aid is money that you work for while in college or career school.
• Gift aid is free money that you don’t have to pay back, and it reduces the total price you’ll pay for college.
• Gift aid is a type of loan that needs to be paid back on an annual basis.

Which college payment option is considered "gift aid"?

• Federal student loans
• Private student loans
• Savings
• Scholarships